To buy or not to buy that is the question. It's a question a lot of people ask in regards to home ownership.
Owning a home has long been part of the American dream, but given today's economic realities and the risks associated with real estate investments, the decision whether to buy or rent a home isn't as simple as it used to be.
Should you rent a one bedroom apartment in West Columbia, SC? Here's a look at the pros and cons of buying vs renting, along with some of the key factors to weigh before deciding whether renting or buying is best for you.
Buying a home likely will be one of the biggest decisions you make, so be sure you research neighborhoods, schools, resale values and other key factors.
Living in home: If it's more than five years, owning could make more sense than buying.
Enough money: Can you afford to cover a down payment and an emergency fund to cover unexpected and potentially substantial repairs.
Credit score: The stronger your score, the better chance you have of getting a lower mortgage interest rate.
Affordability: Take a look at your budget and what you feel comfortable with paying in terms of rent or a mortgage. If you don't feeling comfortable with maintenance fees you may want to hold off on buying.
Remember that a home is an investment, but like another investment it can lose value. If you rent an apartment in West Columbia, SC you can just move. For more information on renting in the Columbia, SC area, contact Abberly Village Apartment Homes.